Global mining giant BHP Billiton Ltd (ASX:BHP) has completed a $6 billion off-market share buyback.
BHP bought back 147 million shares, representing 4.4 per cent of its issued capital, at a final price of $40.85 per share.
Due to the strong demand for the buy-back a scale back of 78.27 per cent was required.
However, successful shareholders who tendered their shares at a 14 per cent discount will have a priority allocation of 125 shares bought back before the scale back is applied.
BHP has now repurchased $US7.8 billion worth of shares since November 2010 and says it expects that the remaining $US2.2 billion under the capital management program will be completed through share buy-backs by the end of 2011.
In the six months to 31 December 2010 BHP Billiton posted a net profit of $10.5 billion.
